Categorized | Commercial

Rising Rents and Healthy Job Report Boost Housing Market

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The residential real estate market in the United States is stronger than ever according to some analysts. They believe that the market is in better shape than it has been in the last three to four years. Builders are laying more plans this year than they have in recent years, and the banks are finally starting to approve more loans.

 

Although the housing market is not expected to fully recover for at least another few years, it is certainly showing positive signs of improvement. Many economists believe that the residential real estate market is benefitting most from an improving job market, and the rise in rent prices across the country.

 

More people find themselves once again employed with a stable job. As such, there is a larger population of people looking for houses in hopes of taking advantage of the current low prices. With rents rising across the country, it is quickly becoming more affordable to buy a home. As such, many renters are now entering the market in hopes of finding a deal that will reduce their monthly costs.

 

Only in areas where taxes are incredibly high is it still affordable to rent a home. That news is good for realtors and construction companies. Both sectors have seen their business grow substantially in recent months. That growth will continue over the next few years, particularly as the housing market gains even more strength.

 

There are still some concerns over the influx of foreclosures that are expected to hit the market in the coming months. Many feel that the increase in foreclosures will cause a decline in pricing, though the impact will likely be temporary.

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About Drew Wilson

Drew focuses on the Commercial and Mortgage/Finance categories.

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